Recent News
On June 6, 2026 the company announced a voluntary recall and ship-hold for specific ChloraPrep™ and FREPP™ lots pending additional release testing.
On July 29, 2026 BD and EMS expanded access to GLP-1 therapies in Brazil via a local semaglutide launch.
On July 9, 2026 BD received recognition among top-performing U.S.-based companies in a corporate performance list.
Technical Analysis
ADX at 49.42 indicates a very strong trend environment; strong trend strength raises the probability that current directional forces persist into the near term.
DI+ shows a peak & reversal, signaling a reduction in upward directional pressure and a bearish directional cue relative to prior strength.
DI- sits at 8.81 and is decreasing, which reduces downward pressure and provides a countervailing bullish influence on directional balance.
MACD at 7.71 has completed a dip & reversal and sits above its signal line (6.86); this cross confirms bullish momentum in the short run.
MRO reads 39.8 with a peak & reversal; MRO positive implies price currently sits above the model target and therefore carries a heightened potential for a corrective move toward fair-value levels.
RSI at 65.39 and rising places momentum toward the upper range of typical trading values, increasing odds of near-term consolidation or mean reversion after recent appreciation.
Price trades above the 12/26/50/200-day averages (12-day EMA $183.52, 26-day EMA $175.40, 50-day avg $162.27, 200-day avg $156.59), and sits near the 52-week high ($192.29); combined with Bollinger upper bands near $189–$195, the technical picture shows bullish continuation potential tempered by overbought pressure and MRO over-target risk.
Fundamental Analysis
Revenue totaled $4,983,000,000 with YoY revenue growth of 26.94% and QoQ revenue change of -155.701% (reported values); top-line expansion year-over-year supports operating leverage despite quarter-to-quarter variability.
Operating income measured $752,000,000 and EBIT reached $686,000,000, producing an EBIT margin of 13.77% (EBIT margin QoQ +245.21%; EBIT margin YoY -11.30%). The EBIT margin sits below the industry peer mean of 24.257% and the industry peer median of 25.876%, but remains inside the industry peer range low-to-high. This places BD below peer central tendency while retaining positive absolute margin levels.
Net income equaled $377,000,000; EPS came in at $3.23 versus an estimate of $3.14, an EPS surprise of $0.09 or +2.87%, consistent with modest beat dynamics that support near-term earnings credibility.
Cash flow from operations totaled $651,000,000 with free cash flow of $508,000,000 and a free cash flow yield of 1.20%; free cash flow yield exceeds the industry peer mean of 0.55% and sits below the industry peer high, indicating middle-of-pack cash conversion relative to peers.
Liquidity ratios show a current ratio of 0.87 and quick ratio of 0.51—both below industry peer means (current ratio mean 3.07, quick ratio mean 2.28)—signaling tighter short-term liquidity relative to peers and a net working capital deficit of $1,265,000,000.
Leverage sits with total debt $16,808,000,000 and debt-to-equity 0.688; debt-to-assets 0.331. Interest coverage registers 5.20x. Debt-to-equity falls slightly above the industry peer mean of 0.6366 but within the peer range, and interest coverage provides a multi-turn buffer on interest expense.
Returns remain constrained: return on equity 1.54% and return on assets 0.74%, both below industry peer means and medians, while earnings growth YoY registered +15.51% and QoQ swung negative. WMDST values the stock as under-valued, reflecting the combination of solid cash generation, below-peer margin positioning, and a multiyear recovery trajectory embedded in the financials.
Valuation multiples: P/E ~48.03, forward P/E ~45.10, price-to-book ~1.73, and enterprise multiple ~46.72. The forward multiples compress slightly QoQ, and the WMDST valuation assessment factors current multiples against free cash flow yield and recovery expectations rather than peer median multiples alone.
Recent earnings were announced for the fiscal quarter ending June 30, 2026 on August 6, 2026; the report and related SEC filing outline updated guidance and accompanying commentary.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-06 |
| NEXT REPORT DATE: | 2026-11-05 |
| CASH FLOW | Begin Period Cash Flow | $ 1.0 B |
| Operating Cash Flow | $ 651.0 M | |
| Capital Expenditures | $ -143.00 M | |
| Change In Working Capital | $ -125.00 M | |
| Dividends Paid | $ -286.00 M | |
| Cash Flow Delta | $ -152.00 M | |
| End Period Cash Flow | $ 863.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 5.0 B | |
| Forward Revenue | $ 3.0 B | |
| COSTS | ||
| Cost Of Revenue | $ 2.7 B | |
| Depreciation | $ 563.0 M | |
| Depreciation and Amortization | $ 563.0 M | |
| Research and Development | $ 258.0 M | |
| Total Operating Expenses | $ 4.2 B | |
| PROFITABILITY | ||
| Gross Profit | $ 2.3 B | |
| EBITDA | $ 1.2 B | |
| EBIT | $ 686.0 M | |
| Operating Income | $ 752.0 M | |
| Interest Income | $ 4.0 M | |
| Interest Expense | $ 132.0 M | |
| Net Interest Income | $ -128.00 M | |
| Income Before Tax | $ 554.0 M | |
| Tax Provision | $ 102.0 M | |
| Tax Rate | 18.412 % | |
| Net Income | $ 377.0 M | |
| Net Income From Continuing Operations | $ 451.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 3.14 | |
| EPS Actual | $ 3.23 | |
| EPS Difference | $ 0.09 | |
| EPS Surprise | 2.866 % | |
| Forward EPS | $ 3.32 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 50.7 B | |
| Intangible Assets | $ 34.0 B | |
| Net Tangible Assets | $ -9.55 B | |
| Total Current Assets | $ 8.1 B | |
| Cash and Short-Term Investments | $ 709.0 M | |
| Cash | $ 708.0 M | |
| Net Receivables | $ 2.4 B | |
| Inventory | $ 3.3 B | |
| Long-Term Investments | $ 2.5 B | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | $ 3.3 B | |
| Total Current Liabilities | $ 9.4 B | |
| Net Debt | $ 16.1 B | |
| Total Debt | $ 16.8 B | |
| Total Liabilities | $ 26.3 B | |
| EQUITY | ||
| Total Equity | $ 24.4 B | |
| Retained Earnings | $ 17.5 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 89.64 | |
| Shares Outstanding | 272.387 M | |
| Revenue Per-Share | $ 18.29 | |
| VALUATION | Market Capitalization | $ 42.3 B |
| Enterprise Value | $ 58.4 B | |
| Enterprise Multiple | 46.72 | |
| Enterprise Multiple QoQ | -46.128 % | |
| Enterprise Multiple YoY | -4.543 % | |
| Enterprise Multiple IPRWA | high: 278.103 median: 55.811 mean: 54.022 BDX: 46.72 low: -259.758 |
|
| EV/R | 11.711 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.078 | |
| Asset To Liability | 1.928 | |
| Debt To Capital | 0.408 | |
| Debt To Assets | 0.331 | |
| Debt To Assets QoQ | -2.53 % | |
| Debt To Assets YoY | -5.95 % | |
| Debt To Assets IPRWA | high: 0.737 BDX: 0.331 median: 0.294 mean: 0.281 low: 0.006 |
|
| Debt To Equity | 0.688 | |
| Debt To Equity QoQ | -3.857 % | |
| Debt To Equity YoY | -9.334 % | |
| Debt To Equity IPRWA | high: 4.153 BDX: 0.688 mean: 0.637 median: 0.623 low: 0.007 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.731 | |
| Price To Book QoQ | -7.065 % | |
| Price To Book YoY | -17.615 % | |
| Price To Book IPRWA | high: 20.783 mean: 5.74 median: 5.142 BDX: 1.731 low: 0.846 |
|
| Price To Earnings (P/E) | 48.027 | |
| Price To Earnings QoQ | -14.601 % | |
| Price To Earnings YoY | -2.195 % | |
| Price To Earnings IPRWA | high: 352.627 mean: 97.55 median: 87.141 BDX: 48.027 low: -276.694 |
|
| PE/G Ratio | 4.221 | |
| Price To Sales (P/S) | 8.48 | |
| Price To Sales QoQ | -11.048 % | |
| Price To Sales YoY | -12.699 % | |
| Price To Sales IPRWA | high: 58.856 mean: 26.514 median: 18.719 BDX: 8.48 low: 1.832 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 45.104 | |
| Forward PE/G | 3.964 | |
| Forward P/S | 14.091 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 46.42 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.098 | |
| Asset Turnover Ratio QoQ | 9.987 % | |
| Asset Turnover Ratio YoY | -2.591 % | |
| Asset Turnover Ratio IPRWA | high: 0.333 mean: 0.142 median: 0.141 BDX: 0.098 low: 0.004 |
|
| Receivables Turnover | 2.181 | |
| Receivables Turnover Ratio QoQ | 9.038 % | |
| Receivables Turnover Ratio YoY | 18.227 % | |
| Receivables Turnover Ratio IPRWA | high: 3.111 BDX: 2.181 median: 1.802 mean: 1.762 low: 0.926 |
|
| Inventory Turnover | 0.8 | |
| Inventory Turnover Ratio QoQ | 16.228 % | |
| Inventory Turnover Ratio YoY | 6.693 % | |
| Inventory Turnover Ratio IPRWA | high: 1.932 BDX: 0.8 mean: 0.547 median: 0.469 low: 0.156 |
|
| Days Sales Outstanding (DSO) | 41.834 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 160.762 | |
| Cash Conversion Cycle Days QoQ | -2.645 % | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 502.252 median: 207.768 mean: 190.615 BDX: 160.762 low: -156.01 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -3.939 | |
| CapEx To Revenue | -0.029 | |
| CapEx To Depreciation | -0.254 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 37.9 B | |
| Net Invested Capital | $ 41.2 B | |
| Invested Capital | $ 41.2 B | |
| Net Tangible Assets | $ -9.55 B | |
| Net Working Capital | $ -1.26 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.075 | |
| Current Ratio | 0.865 | |
| Current Ratio QoQ | -8.105 % | |
| Current Ratio YoY | -21.503 % | |
| Current Ratio IPRWA | high: 16.312 mean: 3.069 median: 2.157 low: 1.24 BDX: 0.865 |
|
| Quick Ratio | 0.513 | |
| Quick Ratio QoQ | -6.274 % | |
| Quick Ratio YoY | -17.096 % | |
| Quick Ratio IPRWA | high: 14.376 mean: 2.282 median: 1.331 low: 0.693 BDX: 0.513 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 13.457 | |
| Cost Of Debt | 0.632 % | |
| Interest Coverage Ratio | 5.197 | |
| Interest Coverage Ratio QoQ | 311.889 % | |
| Interest Coverage Ratio YoY | -7.609 % | |
| Interest Coverage Ratio IPRWA | high: 33.864 mean: 17.827 median: 12.092 BDX: 5.197 low: -44.78 |
|
| Operating Cash Flow Ratio | 0.087 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 1.318 | |
| Dividend Payout Ratio | 0.759 | |
| Dividend Rate | $ 1.05 | |
| Dividend Yield | 0.007 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.199 % | |
| Revenue Growth | 5.706 % | |
| Revenue Growth QoQ | -155.701 % | |
| Revenue Growth YoY | 26.941 % | |
| Revenue Growth IPRWA | high: 23.67 % mean: 6.022 % BDX: 5.706 % median: 4.594 % low: -10.29 % |
|
| Earnings Growth | 11.379 % | |
| Earnings Growth QoQ | -3407.849 % | |
| Earnings Growth YoY | 15.511 % | |
| Earnings Growth IPRWA | high: 92.593 % mean: 19.246 % median: 12.0 % BDX: 11.379 % low: -163.636 % |
|
| MARGINS | ||
| Gross Margin | 46.458 % | |
| Gross Margin QoQ | 1.672 % | |
| Gross Margin YoY | -2.834 % | |
| Gross Margin IPRWA | high: 91.389 % median: 68.265 % mean: 66.114 % BDX: 46.458 % low: 24.335 % |
|
| EBIT Margin | 13.767 % | |
| EBIT Margin QoQ | 245.211 % | |
| EBIT Margin YoY | -11.295 % | |
| EBIT Margin IPRWA | high: 33.603 % median: 25.876 % mean: 24.257 % BDX: 13.767 % low: -91.563 % |
|
| Return On Sales (ROS) | 15.091 % | |
| Return On Sales QoQ | 13.637 % | |
| Return On Sales YoY | -15.081 % | |
| Return On Sales IPRWA | high: 33.603 % median: 25.194 % mean: 24.351 % BDX: 15.091 % low: -94.154 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 508.0 M | |
| Free Cash Flow Yield | 1.202 % | |
| Free Cash Flow Yield QoQ | 13.718 % | |
| Free Cash Flow Yield YoY | -38.454 % | |
| Free Cash Flow Yield IPRWA | high: 3.41 % BDX: 1.202 % median: 0.626 % mean: 0.55 % low: -10.142 % |
|
| Free Cash Growth | 6.947 % | |
| Free Cash Growth QoQ | -152.151 % | |
| Free Cash Growth YoY | -99.759 % | |
| Free Cash Growth IPRWA | high: 462.658 % median: 17.289 % BDX: 6.947 % mean: -19.897 % low: -558.333 % |
|
| Free Cash To Net Income | 1.347 | |
| Cash Flow Margin | 16.496 % | |
| Cash Flow To Earnings | 2.18 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 0.742 % | |
| Return On Assets QoQ | -225.976 % | |
| Return On Assets YoY | -29.333 % | |
| Return On Assets IPRWA | high: 4.55 % median: 2.709 % mean: 2.535 % BDX: 0.742 % low: -26.247 % |
|
| Return On Capital Employed (ROCE) | 1.66 % | |
| Return On Equity (ROE) | 0.015 | |
| Return On Equity QoQ | -219.783 % | |
| Return On Equity YoY | -31.469 % | |
| Return On Equity IPRWA | high: 0.095 median: 0.045 mean: 0.042 BDX: 0.015 low: -0.704 |
|
| DuPont ROE | 1.553 % | |
| Return On Invested Capital (ROIC) | 1.358 % | |
| Return On Invested Capital QoQ | 399.265 % | |
| Return On Invested Capital YoY | -12.837 % | |
| Return On Invested Capital IPRWA | high: 6.507 % median: 3.573 % mean: 3.43 % BDX: 1.358 % low: -11.638 % |
|